Adani Enterprises, Chettinad, among the prospective bidders in Coal India's pre-bid meeting

22 Jun 2022 , 09:42 AM

On June 14 and June 17, Coal India Limited (CIL) had three pre-bid meetings with prospective coal importing agencies that expressed interest in participating in the three worldwide competitive bidding e-tenders for coal imports that the company had published earlier in the month. The government directed CIL to source coal from global markets.

The sessions were held to assist bidders interested in participating in the process in gaining a better knowledge of the bid document, scope of work, and its finer points, as well as ironing out any crimps.

Eleven coal importers participated in the meeting with CIL executives. Adani Enterprises Limited, Mohit Minerals, and Chettinad Logistics Private Limited were among the famous Indian firms. A couple of foreign coal exporting agencies, notably one from Indonesia, have expressed interest.

CIL had previously put out a short-term indent-based worldwide competitive bid for 2.416 million tonnes (MTs) of coal to be sourced from Overseas on behalf of State gencos and Independent Power Plants (lPPs) for blending with domestic coal.

To retain coal on hand for immediate availability and future use, two new medium-term tenders for sourcing 3 MT each from the country’s western and eastern ports were also issued.

The bidders put forward their request to fix the time period for the supply of the first tranche of shipment, from the date of the letter of award, between 4 to 6 weeks. Earlier, the supply schedule was based on a particular percentage of delivery in each of the months of the second quarter of FY23.

CIL modified the bid document in response to their requests, and a corrigendum has already been posted on the e-procurement platform to ensure a smooth procedure.

Coal India is currently trading at Rs183.05 down by Rs1.8 or 0.97% from its previous closing of Rs184.85 on the BSE. The scrip opened at Rs184.80 and has touched a high and low of Rs184.80 and Rs180.60 respectively.